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SMM Brief on SHFE Lead Futures (2013-1-30)
SHANGHAI, Jan. 30 (SMM) – The most active SHFE lead contract price gapped higher at RMB 15,295/mt on January 30 as LME lead prices stood above USD 2,400/mt overnight. Later, since domestic stocks increased over 1% and LME lead continued to rise, SHFE lead prices moved between RMB 15,315-15,350/mt and closed at RMB 15,350/mt with resistance at the 60-day moving average, up RMB 70/mt. Trading volumes increased 32 lots to 168 lots, while positions were down 32 lots to 2,240 lots.
SMM Brief on SHFE Lead Futures (2013-1-30)
SHANGHAI, Jan. 30 (SMM) – The most active SHFE lead contract price gapped higher at RMB 15,295/mt on January 30 as LME lead prices stood above USD 2,400/mt overnight. Later, since domestic stocks increased over 1% and LME lead continued to rise, SHFE lead prices moved between RMB 15,315-15,350/mt and closed at RMB 15,350/mt with resistance at the 60-day moving average, up RMB 70/mt. Trading volumes increased 32 lots to 168 lots, while positions were down 32 lots to 2,240 lots.
